When it comes to bathroom upgrades, new rental property owners frequently spend more money than necessary. Many believe that a high-end bathroom will automatically boost rental rates, but this is rarely the case. Often, an expensive bathroom remodeling project doesn’t improve your rental rate or property value as much as you might expect. To maximize rent and value, you should consider less costly and more durable upgrades that are better suited for a rental property. Building a dream bathroom might sound appealing, but it’s a mistake that can be easily avoided.
Budget-Friendly Bathroom Upgrades: Avoiding Costly Overhauls
Improving a rental property effectively takes careful, budget-conscious planning. Without it, you may invest in upgrades that won’t provide the expected return. Bathrooms are one area where new property owners often overspend, feeling the need to fully remodel every bathroom in their rental house. But going that route will cost you. According to Remodeling Magazine’s “Cost vs Value” report, an average full remodel of a bathroom costs around $25,000, while an upscale remodel can cost $75,000 or more.
While a high-end bathroom may seem like a good idea, it doesn’t always add the property value or appeal that you’d expect. Tenants often seek rental homes with a consistent level of quality across all rooms. If your property has luxury bathrooms but lacks matching quality in other spaces, prospective renters might be turned away. Inconsistent quality can raise red flags for maintenance and repair issues, which renters want to avoid.
Affordable Bathroom Upgrades Tenants Appreciate Without the High Maintenance
Remarkably, many renters don’t actually want the high-end upgrades homeowners dream of. Tenants typically prefer durable materials that don’t require high maintenance. For instance, investing in a whirlpool tub or high-end construction materials may result in upgrades that tenants rarely use and that are prone to expensive repairs. Choosing durable products that can withstand typical rental conditions is often a better choice.
Creating a bathroom with an upgraded feel (without the upgraded price tag) can be reasonably easy. The trick is to focus on the upgrades that will make the bathroom feel updated without needing a complete overhaul. For example, a quality paint job and some new fixtures will go a long way toward creating a fresh and modern bathroom, as will simply replacing the grout and caulking. Light fixtures, drawer pulls, and towel racks are minor upgrades that give a room a high-end feel.
Consider installing a new one-piece tub and shower surround unit for bathtubs and showers that are ugly or not fully functional. Durable and affordable, they are quick to install and easy to maintain. Higher-end units can give a bathroom an upgraded feel without needing a custom tile job.
Determining the best bathroom upgrades to make your rental property more attractive to renters can be challenging. Real Property Management Tampa St Pete has the expertise to help you choose upgrades that will increase your property values and appeal to renters in Tampa. We ensure all work is completed on time and within budget. For more information, contact us online or call us at 813-445-4600.
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